Mitchell Lench, founder of Ocean’s Balance, believes that working closely with corporate food and pet food companies, rather than creating novel consumer-focused products from scratch, could be a ticket to success for the West’s seaweed sector.

Founded in 2016, Ocean’s Balance aggregates seaweed from Maine, New Brunswick and Central America, operates the largest seaweed processing hub in New England, and is currently working with up to eight major human and pet food multinationals, including Purina and Mars.

Author: Rob Fletcher / The Fish Site l Read the full article here

Scottish salmon exports reach record high of £844m

Scottish salmon exports reached a record £844 million in 2024, a 45 per cent increase year-on-year, maintaining its position as the UK’s top food export.

Data published by HM Revenue & Customs today confirm that the growth was driven by increased demand in Asian markets, where sales rose by over 60 per cent, particularly in China and Taiwan. France remained the largest market, accounting for 55 per cent of total exports, followed by the United States at 27 per cent.

Source: SalmonBusiness l Read the full article here

Saudi Fisheries has announced plans for a rights issue to raise SR334.9 million (approximately US$89.3 million), subject to shareholder and regulatory approvals.  The capital raise aims to bolster the company's strategic initiatives following substantial losses in recent years.

The proposed rights issue represents a significant capital increase of 36.7%.  Following the announcement, shares closed down 5.3% on Monday at SR136.40, giving the company a market capitalization of SR913.7 million.

Financial performance for the nine months ending September 30th reveals a 58.9% year-on-year decline in revenue to SR17.6 million.  Net losses widened slightly to SR48.5 million, compared to SR47.1 million in the same period of 2023. The company cited supply chain disruptions as the primary cause of declining sales, with losses further impacted by reduced income from investment properties and increased consultancy expenses.

A January extraordinary general meeting (EGM) approved an 83.3% capital reduction to eliminate accumulated losses, leaving approximately 6.7 million shares outstanding.  As of September, accumulated losses stood at SR333 million, and liabilities exceeded assets by SR50.1 million.

Source: IFR

Following a mooring failure at Mowi's Storvika V facility in Dyrøy municipality, Troms, on Sunday, February 9th, an estimated 27,000 farmed salmon escaped. Mowi is now offering a reward of NOK 500 per recaptured salmon.

Fishermen can deliver caught salmon to designated fish reception centers in the municipalities of Senja, Dyrøy, Sørreisa, Salangen, Lavangen, Gratangen, Ibestad, Harstad, and Andenes. The fish will be registered on the Råfisklaget's final bill as farmed salmon (round or gutted with head) at a price of NOK 0, with the number of fish recorded.

Mowi will arrange payment of the bounty after the fishing effort is completed. The fish reception centers will retain the delivered salmon.

The bounty applies to escaped farmed salmon within a weight range of 4.5kg to 6.5kg.

Source: Norwegian Raw Fish Association

Related News:

• IN BRIEF - Estimated 27,000 Salmon Escape from Mowi Facility in Norway

Greece’s aquaculture sector is one of the most dynamic and strategically significant pillars of the national economy. As the leading producer of sea bream and sea bass in the European Union and the second-largest globally, Greece holds a prominent position in an export-driven industry with vast growth potential. The sector’s advancement relies on expertise, investment in innovative technologies, and continuous improvements in production processes, making it one of the most vital components of Greece’s primary industry.

Aquaculture is a key driver of economic development in coastal and island regions, providing not only financial benefits but also sustainable employment opportunities. 

Author: Thodoris Antoniou and Dimitris Pafras / FIsh Focus l Read the full article here

Land-based yellowtail farmer The Kingfish Company has reported a sales volume of 556 tonnes for the last quarter of 2024, up from 343 tonnes year-on-year.

The Netherlands-based company said in its latest trading update that  sales for Q4 had been driven by “strong holiday season demand and a well-executed go-to-market approach.”

Growth in both retail and food service channels reached new levels compared to previous years. However, revenue per kg declined to €13.4, impacted by seasonal promotions and the need to sell an increased amount of small sized fish to adjust the biomass.

Author: Robert Outram / FIsh Farmer l Read the full article here

The Norway spot price weakened further last week. Volumes remain good.

The spot price of salmon fell by 2.81 NOK/kg in week 7, down to 86.52 NOK/kg. Thus, the price has dropped 42.92 NOK/kg over 5 weeks.

The price in week 7 was 22.51 NOK/kg lower than it was in the same week in 2024.

The average spot price so far this year is 101.04 NOK/kg, compared to 106.17 NOK/kg a year ago.

Author: Mugaas Jensen / fishfarmingexpert l Read the full article here

The sandeel stock has declined continuously from its peak in 2020. It is now at a historically low level, even after very low catches in the past two years. The survey in December also suggests that the 2024 year class is weak.

Predatory fish have made it difficult for researchers

In addition, the survey in recent years has given an overly optimistic picture of how many yearlings we can find in the sandeel fields in the spring.

"There has been a lot of haddock and whiting in the sandeel areas in the North Sea. These have probably grazed on the young sandeel before the fishing has started in the spring", explains marine researcher Espen Johnsen. According to the management model, the preliminary quota recommendation should be cautious. The researchers provide an updated recommendation when they receive new information about the stock through a trawl and acoustic survey in April-May. 

Little older fish and little new fish

Last year, the acoustic survey showed that the amount of sandeel was historically low. It was almost only area 3 (see map) that had catchable amounts.

"Low stock in the starting point, and signs of weak recruitment mean that we recommend keeping all areas closed from the start. We will come with an updated recommendation by mid-May", says Espen Johnsen.